Zomato said revenue from operations rose from ₹466 crore in FY18 to ₹2,604 crore in FY20. Food delivery app Zomato Ltd., backed by China’s Ant Group, on Wednesday filed a draft red herring prospectus (DRHP) with the Securities & Exchange Board of India (SEBI) to raise ₹8,250 crore. The IPO would comprise fresh issue of … Read more
At Walmart Inc., the robots are losing their jobs. The retailer is phasing out the hulking automated pickup towers that were erected in more than 1,500 stores to dispense online orders. The decision reflects a growing focus on curbside pickup services that have become more popular during the Covid-19 pandemic and continues a broader retreat … Read more
Curbside pickup got a major boost because of the pandemic as customers avoided going into stores. Experts predict that the shift to online grocery delivery will continue even as the pandemic subsides, and COVID-19 advanced the industry several years.I’ve been doing curbside pickup at Walmart since the summer using Walmart’s app. Here’s what it’s like. … Read more
India will require e-commerce firms to treat sellers equally on their platforms and ensure transparency, according to a draft policy seen by Reuters on Saturday that follows criticism against business practices of big online companies. India has been deliberating a new e-commerce policy for months amid complaints from brick-and-mortar retailers who allege online giants like … Read more
The wealth of Mark Zuckerberg, Elon Musk, and others rose beyond $360 billion during the pandemic. Oracle and Dell’s leaders are among the other tech billionaires to have profited last year. Their wealth has attracted scrutiny amid systemic inequality in the US. The pandemic has been a crisis for many, but not for America’s wealthiest … Read more
Demand for shopping savings app Fetch Rewards skyrocketed during the pandemic. That led to an $80 million fundraising haul last November, led by Iconiq Growth. Now, the company is in talks for another round that could more than double its old valuation. Visit the Business section of Insider for more stories. When Wes Schroll went … Read more
A new report by Boston Consulting Group (BCG) says India’s consumption market is back on the growth track after a year, having been disrupted by the pandemic. While growth projection for the consumption market was made before Covid-19 struck, BCG says that the economy has completely unlocked and there has been an uptick in demand … Read more
Amazon beat fourth quarter analyst expectations with diluted EPS of $14.09. In 2019, Amazon’s executives earned between $163,200 and over $50 million. Due to previous equity awards, some executives did not receive stock in 2019. Visit Business Insider’s homepage for more stories. Amazon reported diluted EPS of $14.09 for the fourth quarter of 2020 on … Read more
The transition, slated for the third quarter, will make current cloud computing chief Andy Jassy Amazon’s next chief executive officer. Amazon.com Inc on Tuesday said founder Jeff Bezos would step down as CEO and become executive chairman, as the company reported its third consecutive record profit and quarterly sales above $100 billion for the first … Read more